Why 40 to 60 Percent of Properties Are Over-Assessed for Property Taxes and How to Address It: Overlooked Adjustment Categories to Lower Your Assessment Property taxes are a major financial responsibility for homeowners. Calculated based on the assessed value of a property, they contribute to funding essential public services like schools, roads, and emergency services. […]
Homeowners and businesses complain about increases in their property taxes. Previous assessments are rolled over and few contest when properties are overvalued. If a property owner, a business or owner of rental property believes the new assessment does not represent fair market value, they need to appeal. The process of equalizing values of similar properties […]
A recent CBS News Headline: “Unpaid $8.41 property tax bill cost Michigan man his house”. It went to foreclosure and was auctioned off to a buyer for $24,500 even though the house was purchased originally for $60,000. This could apply to anyone under Michigan’s 1999 property tax law for similar amounts. The 83 year old […]